Chemoinformatics or Cheminformatics is an important interdisciplinary field that integrate the domain of chemistry and information science with computer science. In other words, it is the application and integration of Informatics with chemical Science. This concept originated some years back but gained popularity as a knowledge domain in the domain of chemical sciences very recently. It plays a vital role in storing large data sets related to chemical science and converting or transforming it into knowledge to make better and faster decision. Here, the methods or algorithm incorporated into it,assist the professionals to identify the better and appropriate chemical compound to also meet the need of medical and allied domain as they are the ultimate end users of the end product of chemical science. Inspite of having several benefits, there are so many misconceptions are still there with Chemoinformatics. This paper explains the general role of Chemoinformatics, its application, brief evaluation and future potentials.